You Are More Sensitive to a Change in Price If

question 321

Multiple Choice

You are more sensitive to a change in price if you

• A) spend a lot of your income on the good.
• B) spend a small percentage of your income on the good.
• C) buy very little of the good.
• D) do not buy the good regularly.
• E) have a very inelastic demand for the good.

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Definitions:

Visual Aids

Tools and resources used to enhance the understanding or appeal of an information presentation, ranging from graphs and slides to physical products.

Trial Close

A strategy in sales where the salesperson presents a potential closing question or statement to assess the buyer's level of interest or readiness to buy, differing from prior mention by emphasizing the strategic aspect.

Open-Ended Question

A type of question that cannot be answered with a simple 'yes' or 'no', encouraging more detailed and informative responses.

Selling Point

A unique feature, benefit, or advantage of a product or service that makes it appealing to potential buyers.